Turboprop Values See Modest Rise

August 16, 2022

The demand for turboprops continues to improve although the limited number of orders and still modest production rates suggest otherwise.

ATR delivered 50 ATR72-600s in 2019 which was down from the 76 delivered in 2014. In 2020 the production rates had fallen even further which was to be expected given that the Covid Event represented a catastrophe for the industry. Only eleven were delivered in 2020 and in 2021 this had managed to improve to 20. The first months of 2022 have seen only five ATR72-600 deliveries. These low numbers need to be seen in the context of a monopoly as the Dash8-400 is currently no longer being produced. ATR are forecasting an improvement in deliveries. During the course of the pandemic turboprop operators were particularly impacted. The operators of turboprops sometimes have lesser resources to withstand a sudden drop in revenues and rarely qualify for government assistance. A significant number of turboprop operators collapsed during the Covid Event resulting in a surplus. Lessor, Nordic Aviation Capital, underwent a major restructuring largely because of lessee defaults. Traffic is recovering but time is required to build up reserves again to contemplate adding capacity although a number of operators have sought to fill voids left open by contracting incumbent operators.

In terms of regional turboprops – generally those aircraft with 30 seats or more – there are 4,600 active/inactive aircraft. Of these 1,700 are inactive of which 1,400 are in storage. Those in storage represent some 37 percent of the fleet. The surplus is therefore significant and will never be reabsorbed. Many of those in storage are older aircraft that are simply parked and not being remarketed due to the lack of interest. The condition of many aircraft in storage continues to deteriorate making a return to service even less likely. ATR72-500s are in storage in numbers for which no operators are identified. Moreover, there are some 20 ATR72-600s also in storage which also do not have an operator assigned. The Asian carriers are only now seeing a surge in traffic and as such many turboprops need to be brought out of storage again reducing the ability to place new orders.

Despite the surplus turboprop values have historically been able to achieve a measure of stability because of limited changes in the product line. The introduction of the XT engine on the ATR represents a modest change and will not upset the market. However, the need for environmental compliance means that the turboprop sector is ideally placed to introduce more radical changes not least as some countries – France for example – reduce domestic flights. Embraer is set to launch a new turboprop and ATR have indicated that a modest development of its ATR product may be forthcoming later in the decade. These developments need to be assessed when determining residual values as they could see a major change in regional turboprop residual values.

The future market (not base – AVAC does not produce abstract base values) values – three and seven years hence from April 30th 2022 – are expressed in current dollars, are based on the mid case current value, and include an adjustment for inflation that varies on an annual basis. The figures are for guidance only and are not intended to reflect actual recent market transactions – assuming that any exist. Rather the values represent the considered worth of the aircraft tempered by the prevailing market conditions. An Aircraft Rating, first created by AVAC and adopted by the wider financing sector, more than 15 years ago, is also indicated, reflecting the relative suitability of the type for asset based financing in the prevailing market conditions and over a seven-year timeframe.

The figures have been extracted from the April 2022 edition of semi-annual Turboprop Volume of Aircraft Values Basic, The Aircraft Value Reference 2022-2042 priced at US$1,950.00 per annum for unlimited web site access. Courtesy of The Aircraft Value Analysis Company Limited (AVAC Ltd). Tel: +44 (0) 203 468 5594. Fax: +44 (0) 203 468 5596. E-mail: [email protected]. http://www.aircraftvalues.net; www.aircraftvalues.com.

YEAR			April 2022CURRENT VALUE						FUTURE VALUE
			MID			LOW	HIGH		2025	2029
ATR42-300. The age of the -300- is now such that even the youngest is now over 25 years of age. A number have been converted to freighters. ATR has recently indicated that PMV engineering can undertake the conversion which includes a large main deck cargo door and is priced at $1.65 million. The conversion takes some five months. IPR also offers a passenger to freighter conversion excluding the main deck cargo door for a price of $295,000. This includes the removal of the passenger interior and adjustable vertical nets, new smoke detectors and the strengthening of the floor. Other options include SATCOM as well as fuselage protection from objects on the runway. There is a temptation to assume that the regional market was largely unaffected by the Covid Event but this could not be further from reality. The turboprops are heavily reliant on flying international routes albeit over shorter distances. They also rely on both business and leisure traffic which suffered major declines. Even now many regional operators are suffering as traffic only gradually returns.
AIRCRAFT RATING:							D+
1985			0.65			0.54	0.95
1987			0.71			0.59	1.03
1989			0.77			0.64	1.12
1991			0.83			0.69	1.20
1993			0.89			0.74	1.29
1995			0.95			0.79	1.38
1997			1.01			0.84	1.46	0.59
ATR42-320. The -320 may have provided some additional capability for operators but again this is a sub group that is very much ageing particularly in the context of more readily available -500s. As a passenger aircraft, demand remains very weak and as such values are barely changing. The -320 can be acquired for small change but there can be some variation due to condition and maintenance status. Moving between continents may not be easy. The freighter role has been the mainstay of this subfleet for many years and will remain so. The arrival of a production freighter from ATR has not impacted values because of disparity in pricing between the two variants.
AIRCRAFT RATING:							D++
1988	0.62					0.54	0.99
1990	0.73					0.62	1.15
1992	0.83					0.71	1.31
1994	0.93					0.80	1.47
1996	1.03					0.89	1.63
ATR42-400. The -400 is powered by PWC121A engines offering slightly better performance for those who have specific operational requirements.
AIRCRAFT RATING							D++
1996			1.10			0.77	1.71
ATR42-500. The ATR42-500 saw some 130 deliveries and as such remains a reasonably sized subfleet of the ATR42 series butwith some 40 still in storage of which a number have no assigned operator, then this remains a concern. The values have therefore been fortunate to see an increase even as the market improves.
AIRCRAFT RATING:							C-
1995			1.42			1.02	2.06
1997			2.00			1.44	2.89	1.03
1999			2.57			1.85	3.73	1.57
2001			3.15			2.27	4.56	1.94		1.31
2003			3.72			2.68	5.40	2.33		1.58
2005			4.30			3.10	6.24	2.72		1.86
2007			4.88			3.51	7.07	3.12		2.16
2009			5.45			3.93	7.91	3.55		2.47
2011			6.03			4.34	8.74	3.99		2.81
ATR42-600. The demand for the -600 has been sporadic although some have been ordered by lessors. Compared to the 130 -500s ordered approximately 112 -600s have been ordered of which 66 have been delivered in drips and drabs. The values of the -600 therefore continues to decline even though there are now few in storage. ATR has sought to increase the popularity of the ATR42 by introducing a STOL version that will allow operation at much more constrained airports.
AIRCRAFT RATING:							C
2012			7.00			5.95	7.91	4.76		3.37
2014			8.51			7.23	9.62	5.93		4.25
2016			10.02			8.52	11.33	7.19		5.23
2018			11.54			9.81	13.04	8.58		6.37
2020			13.05			11.09	14.75	10.17		7.72
2022			14.56			12.38	16.45	11.79		9.22
ATR42-600XT The ATR42-600 is now available with the XT engine which offers greater efficiency and therefore warrants a slight premium of around two percent. The incremental improvements to the ATR have provided some reassurance for values but the arrival of the all new Embraer turboprop will represent a significant competitor.
AIRCRAFT RATING:							C++
2022	15.20					12.92	17.17	12.71		10.17
ATR72-200. The -200 is clearly showing its age and values are therefore failing to improve. However, the low pricing of the aircraft can encourage use by new market entrants. A good number have been converted to freighters and the use of hydrogen may be practical for such cargo configured aircraft in the coming years.
AIRCRAFT RATING:							D+
1989			0.92			0.69	1.27
1991			1.00			0.75	1.38
1993			1.08			0.81	1.48
1995			1.15			0.86	1.59
ATR72-210. The -210 offers improved performance allowing operators to use shorter, higher, hotter runways. The type still has some attraction given the lower capital cost.
AIRCRAFT RATING:							D++
1992			0.97			0.66	1.40
1994			1.06			0.72	1.53
1996			1.15			0.78	1.67
1998			1.24			0.84	1.80	0.75
ATR72-210A. The slight improvement in performance is an important consideration for specific operators.
AIRCRAFT RATING:							D++
1997			1.40		0.95		1.97	0.72
ATR72-500. The -500 represented a sufficient improvement over the -200 that orders surged and eventually 363 were produced. But the market has now moved such that the -600 is replacing earlier variants. There are many that are in storage and again for which no operator is assigned. The freighter conversion program is increasingly likely to focus on the variant as values fall further.
AIRCRAFT RATING:							C+
1996		2.82				2.26	3.27	1.50		–
1998		3.52				2.82	4.09	1.95		1.11
2000		4.22				3.38	4.90	2.41		1.45
2002		4.92				3.94	5.71	2.88		1.79
2004		5.63				4.50	6.53	3.36		2.15
2006		6.33				5.06	7.34	3.86		2.53
2008		7.03				5.62	8.15	4.37		2.92
2010		7.73				6.18	8.97	4.91		3.35
2012		8.43				6.74	9.78	5.49		3.81
ATR72-600. The -600 saw a swathe of orders even if recently production rates have waned due to the Covid Event. Over 720 have been ordered and 586 have been delivered. With a monopoly in this segment, the orderbook should continue to be reasonable although the problems caused by the pandemic continue to weigh on the type. The 100 in storage represents a concern and this will take time to dissipate not least because some operators have collapsed. Again, the development of the Embraer product will have repercussions for a design that clearly goes back to the 1980s.
AIRCRAFT RATING:							B–
2011	8.89					7.64	9.69	5.96		3.92
2013	10.89					9.36	11.87	7.53		5.07
2015	12.89					11.08	14.05	9.19		6.34
2017	14.89					12.81	16.23	11.01		7.77
2019	16.89					14.53	18.41	12.83		9.28
2021	18.89					16.25	20.59	14.45		10.77
ATR72-600XT. The XT is here and operators will be able to feel the benefit in terms of better fuel consumption and low maintenance costs. Many operators would wish to acquire the XT but the cost of a new example is not cheap when compared to the still fragmented revenue streams.
AIRCRAFT EATING:							B
2022	20.49					17.62	22.34	15.87		12.12
Beech B99.There are relatively few in service and a number of those that do remain in service are being used as freighters.
AIRCRAFT RATING:							E+
1969			0.05			0.03	0.28
1971			0.07			0.04	0.38
1973			0.09			0.05	0.47
1975			0.11			0.06	0.57
Beech C99.The 19-seat market remains relatively static not least because there has been no production for so long. There has been a stream of retirements which inevitably tightens supply. Pricing is stable but there can be considerable variation depending on condition and engine status.
AIRCRAFT RATING:							E++
1981			0.12			0.08	0.50
1983			0.13			0.09	0.53
1985			0.14			0.09	0.56
Beech 1900C.While offering some improvements over the C99, the 1900C was and is still relatively basic albeit allowing passengers to get from A to B.
AIRCRAFT RATING:							E++
1983			0.30			0.20	1.35
1985			0.34			0.23	1.53
1987			0.38			0.26	1.71
Beech 1900C-1.The -1 tweaked certain aspects but there was only so much that could be squeezed in – and that includes the passengers.
AIRCRAFT RATING:							D–
1987			0.45			0.30	1.94
1989			0.50			0.33	2.13
1991			0.54			0.36	2.32
Beech 1900D.The pricing of the Beech 1990D can sometimes come as a surprise given its age. The values of the type have experienced considerable volatility over the years but more recently there has been a measure of stability.
AIRCRAFT RATING:							D++
1992			1.23			0.82	2.95
1994			1.45			0.97	3.48
1996			1.68			1.12	4.02
1998			1.90			1.27	4.56	1.23
2000			2.12			1.42	5.10	1.38		0.81
2002			2.35			1.57	5.63	1.55		1.07
DHC6-300.The market for the Dash6-300 has recovered after a short period of weakness. There is considerable difficulty in finding a -300 in good condition for less than $4 million which for a 40 year old aircraft is extremely high. The Ikhana X2 seems a complete relife of the -300 and therefore can attract a premium of some $2 million. Tourism is opening up once more and this is leading to a surge in interest.
AIRCRAFT RATING:							C++
1969			1.47			1.03	3.23
1971			1.63			1.14	3.59
1973			1.79			1.25	3.94
1975			1.95			1.37	4.29
1977			2.11			1.48	4.64
1979			2.27			1.59	4.99
1981			2.43			1.70	5.35
1983			2.59			1.81	5.70
1985			2.75			1.93	6.05
1987			2.91			1.96	5.76	2.04
DHC6-400.A new -400 costs around $6.5-7.0m depending on specification but production has been temporarily halted. Used pricing has to be more realistic as not that many operators can make money with a $6 million price tag. Production may be halted but demand will emerge once more such that Viking can restart manufacturing.
AIRCRAFT RATING:							C++
2010			3.94			3.42	4.56	2.85		2.23
2012			4.50			3.92	5.22	3.32		2.63
2014			5.06			4.41	5.87	3.83		3.07
2016			5.63			4.90	6.53	4.38		3.57
2018			6.19			5.39	7.18	5.00		4.16
2020			6.76			5.88	7.84	5.72		4.86
DASH8-100.The Dash8-100 has always suffered from an ebb and flow on the used market and with some 100 still in storage, there is no rationale for assuming that values are on the increase.
AIRCRAFT RATING:							D
1984			1.15			0.69	2.83
1986			1.19			0.75	3.09
1988			1.29			0.81	3.35
1990			1.39			0.88	3.61
DASH8-100A.Generally, the A and B versions denote improved performance while the Q series reflect improved noise attenuation and other improvements. Specifically, the -100A offers a restyled interior.
AIRCRAFT RATING:							D+
1992			2.24			1.41	3.81
1994			2.25			1.42	3.82
1996			2.26			1.42	3.84	1.46
DASH8Q-100A.The Q or Quiet series denotes much improvement in terms of interior noise suppression. The Q series also saw a number of other refinements that makes it more attractive when compared to earlier variants.
AIRCRAFT RATING:							D++
1997			2.74			1.73	4.66	1.73
1999			2.89			1.82	4.91	1.83
2001			3.03			1.91	5.15	1.94		1.36
DASH8-100BThe B version provides slightly better performance and will therefore be in demand by some operators.
AIRCRAFT RATING:							D+
1992			2.15			1.33	4.08
1994			2.22			1.38	4.22
1996			2.29			1.42	4.36
DASH8Q-100B. The Q version is the more desirable as it provides for a more pleasurable passenger experience. Existing operators of the type may be the most obvious targets for remarketing but there can be considerable variation in condition which still impacts values.
AIRCRAFT RATING:							D++
1997			2.78			1.72	5.27	1.47
1999			2.94			1.82	5.59	1.84
2001			3.11			1.93	5.90	1.96		1.36
DASH8-200A. The -200 type offers improved performance over the -100. Any improvement in capability is always attractive to those operators using the aircraft on marginal routes. The -200A offered operators the chance to use PW123C engines.
AIRCRAFT RATING:							D++
1992			2.25			1.40	4.28
1994			2.36			1.46	4.48
1996			2.46			1.53	4.68
DASH8Q-200A.The fitment of a new interior and reduction in vibration provided new levels of passenger comfort.
AIRCRAFT RATING:							C–
1997			2.79			1.73	5.31	1.78
1999			2.99			1.86	5.69	1.92
2001			3.19			1.98	6.06	2.07		1.43
DASH8-200B.The -200B provides for another incremental performance improvement over the -200A. The -200B provided an upgraded powerplant in the form of the PW123D.
AIRCRAFT RATING:							C–
1992			2.25			1.40	4.16
1994			2.36			1.46	4.36
1996			2.46			1.53	4.56
DASH8Q-200B.The Q version of the -200B represented the latest version and values have experienced a measure of stability. Passenger weight is a constant battle for the operators of smaller aircraft and pricing may be higher.
AIRCRAFT RATING:							C–
1997			2.83			1.75	5.37	1.81
1999			3.07			1.90	5.83	1.98
2001			3.32			2.06	6.30	2.16		1.50
DASH8-300.With 50 seats the -300 is more able to offer good service for a variety of operators. The values of this variant are holding steady but there has to be an appreciation that the aircraft is not getting any younger. Some 267 -300s of all guises were built before production ceased which is more than a credible number.
AIRCRAFT RATING:							C–
1988			1.64			0.98	2.79
1990			1.69			1.01	2.87
DASH8-300A.The -300A provides for a modest improvement in performance and as such will be considered with more enthusiasm were it not for the ready availability of the Q series at what are not too high prices.
AIRCRAFT RATING:							C–
1992			2.90			2.03	4.93
1994			2.99			2.09	5.08
1996			3.08			2.16	5.24
DASH8Q-300AThe Q version of the 50 seater provides passengers with a few more luxuries, not least a more vibration freer experience.
AIRCRAFT RATING:							C–
1997			3.80			2.47	6.65	2.42
1999			4.10			2.67	7.18	2.64
2001			4.40			2.86	7.71	2.86		1.99
DASH8-300B.The B series features a further improvement in engines albeit minor. The PW123B powerplant is used rather than the PW123A.
AIRCRAFT RATING:							C-
1992			2.90			2.03	4.93
1994			2.99			2.09	5.08
1996			3.08			2.16	5.24
DASH8Q-300B. The Q300B is still the aircraft of choice for some operators as it provides reliable service with maintenance not being too much of an issue, especially with respect to the engines. Production however ended many years ago and for first tier operators there now exists of replacing only with the ATR – Embraer is unlikely to launch a 50 seater.
AIRCRAFT RATING:							C-
1997			3.61			2.60	6.13	2.32
1999			4.04			2.91	6.86	2.62
2001			4.46			3.21	7.59	2.92		2.04
2003			4.89			3.52	8.31	3.23		2.27
2005			5.32			3.83	9.04	3.55		2.52
2007			5.74			4.13	9.76	3.89		2.77
DASH8Q-400The market for the -400 was suffering even before Covid emerged but since then there has been some measure of recovery even if there remain a significant number in storage. A total of over 630 -400s were eventually ordered but again at more than 20 years of age there is a continual churn of examples.
AIRCRAFT RATING:							C+
2000			3.61			2.96	3.90	2.13		1.27
2002			4.68			3.83	5.05	2.86		1.81
2004			5.74			4.71	6.20	3.60		2.38
2006			6.80			5.58	7.35	4.37		2.96
2008			7.87			6.45	8.50	5.17		3.58
2010			8.93			7.33	9.65	6.00		4.24
2012			10.00			8.20	10.80	6.87		4.95
DASH8Q-400NGThe lack of production – possibly a permanent phenomenon – is both a positive and negative. The lack of new production drives operators to the used market but operators may not be able to build fleets. The type is well suited perhaps to the potential for hydrogen conversion and this will breathe new life into the program albeit confined to a limited number of airports. The values are stable although the youngest may be experiencing a measure of weakness as operators avoid paying a premium for an aircraft that performs exactly the same task as a ten-year-old example. Aergo Capital has just delivered 4380 to SATA Air Azores.
AIRCRAFT RATING:							C+
2010			9.11			7.47	9.84	6.36		4.57
2012			10.49			8.60	11.33	7.50		5.50
2014			11.87			9.73	12.82	8.73		6.53
2016			13.25			10.86	14.31	10.06		7.68
2018			14.63			12.00	15.80	11.49		8.97
2020			16.01			13.13	17.29	12.78		10.25
BAe Super J31.The Super J31 may cost very little but the costs associated with running an airline and ensuring regulatory compliance are considerably greater.
AIRCRAFT RATING:							D+
1988			0.40			0.27	1.24
1990			0.48			0.32	1.48
1992			0.55			0.38	1.71
BAe J41. There were only a limited number of J41s built and the market remains difficult.
AIRCRAFT RATING:							D+
1992			0.64			0.41	2.23
1994			0.68			0.43	2.36
1996			0.71			0.46	2.49
BAe ATP Freighter.The market for freighters should be strong but not every freighter is enjoying demand. The majority of ATP freighters remain inactive. The type was always dependent on a few operators and there are a number for which West Atlantic no longer appears as the operator. This demonstrates that there is not necessarily a clear path to success even after freighter conversion.
AIRCRAFT RATING:							C-
1988			1.50			1.02	3.91
1990			1.55			1.06	4.04
1992			1.60			1.09	4.16
CASA 212-200.There are few examples in existence and values have long been variable due to condition and registration with use in the freighter role an obvious solution. The recent tragic loss of a co-pilot involved the C212-200.
AIRCRAFT RATING:							D–
1980			0.09			0.06	0.35
1982			0.15			0.09	0.56
1984			0.20			0.12	0.76
1986			0.26			0.15	0.97
CASA 212-300.The better performance of the -300 provides an option for operators. The aircraft offers operators some flexibility but the preference would be for other types. The decline in values in percentage terms may seem a lot but not in dollar terms.
AIRCRAFT RATING:							D–
1987			0.44			0.28	1.41
1989			0.55			0.35	1.77
1991			0.67			0.42	2.13
1993			0.78			0.49	2.50
1995			0.89			0.56	2.86
1997			1.01			0.63	3.22	0.53
CN235.The CN235 presented the market with an alternative but not to any great extent. A good solid aircraft but one which was more likely to be popular in the military role. There are few on the market.
AIRCRAFT RATING:							D-
1988			1.06			0.72	3.30
1990			1.13			0.77	3.52
1992			1.20			0.82	3.73
1994			1.28			0.87	3.95
1996			1.35			0.91	4.17
1998			1.42			0.96	4.39	0.85
Dornier Do228-100.There are a few -100s in storage but not that many perhaps because some examples have already been parted out. The aircraft is used on domestic services.
AIRCRAFT RATING:							D-
1982			0.13			0.09	0.40
1984			0.20			0.13	0.61
1986			0.27			0.18	0.81
Dornier Do228-200.The Dornier Do228 may appear to belong to bygone era but the type still has some validity to a few operators. With low utilization the type can remain in service for many years. The aircraft offers simplicity of operation at reasonable capital cost. There are always a number in storage but there always seem to be some movement between operators not least because the aircraft can be bought for a reasonable price. Lending will be on the basis of the credit not the asset though.
AIRCRAFT RATING:							D-
1982			0.30			0.21	0.94
1984			0.42			0.29	1.31
1986			0.54			0.37	1.67
1988			0.66			0.45	2.04
1990			0.78			0.53	2.40
1992			0.89			0.61	2.77
1994			1.01			0.69	3.13
1996			1.11			0.75	3.65	0.73
1998			1.22			0.83	4.04	0.81
Dornier 328-110There are a considerable number that are in storage for which no operator is evident. The type continues to have its supporters and again no new production aircraft are available. Markets are opening up once more.
AIRCRAFT RATING:							D-
1992			1.08			0.73	2.81
1994			1.19			0.81	3.08
1996			1.29			0.88	3.36
1998			1.40			0.95	3.63		0.86
2000			1.50			1.02	3.91		0.93	0.62
Embraer EMB110 Banderainte.A good solid aircraft that offers simplicity but efficient transport for those wishing to carry a few passengers or freight – or both.
AIRCRAFT RATING:							D
1980			0.13			0.08	0.47
1982			0.23			0.14	0.85
1984			0.33			0.20	1.22
1986			0.43			0.26	1.59
1988			0.53			0.33	1.97
Embraer EMB120RT Brasilia.The Brasilia offered operators more space and sophistication for passengers that were used to flying on mainline services. Values have been a variable for many years because of the nature of the 30 seat segment but a number keep on flying not least because of the absence of new production.
AIRCRAFT RATING:							D+
1985			0.61			0.40	1.89
1987			0.68			0.44	2.12
1989			0.76			0.49	2.34
1991			0.83			0.54	2.57
1993			0.90			0.59	2.79
EMB120ER Adv.The Advanced provides for better performance and is more desirable as a consequence. Even if larger aircraft are being sought the type remains a possibility for a range of operators.
AIRCRAFT RATING:							D+
1994			1.60			1.01	3.67
1996			1.66			1.05	3.83	1.11
1998			1.73			1.09	3.98	1.17
Fairchild Metro.There are just too many available on the market during these weak market conditions even if production ceased nearly two decades ago.
AIRCRAFT RATING:							E++
1970			0.08			0.05	0.26
1972			0.09			0.06	0.30
1974			0.10			0.06	0.34
Metro II.While offering something of an advance in terms, there was only a modest improvement. The type is therefore not the most sought after of 19 seaters and advancing age does little for reliability. Corrosion will become an ever greater problem.
AIRCRAFT RATING:							D-
1975			0.13	0.08			0.33
1977			0.15	0.09			0.39
1979			0.17	0.11			0.45
1981			0.20	0.12			0.51
Metro IIILGW.There are a surprising number of examples still in service not least in the U.S. The market may remain sporadic but at least the type can be traded – sometimes.
AIRCRAFT RATING:							D+
1981			0.26			0.15	0.75
1983			0.33			0.20	0.94
1985			0.39			0.24	1.14
1987			0.46			0.28	1.33
1989			0.53			0.32	1.53
1991			0.60			0.36	1.73
Metro IIIHGW.A workhorse for many operators providing few if any frills for passengers. The higher price of fuel is a concern given that this reduces the line between profit and loss assuming that ticket prices cannot be increased. There can be considerable variation in pricing with the location and country of registration an important determinant.
AIRCRAFT RATING:							D++
1981			0.37			0.28	1.33
1983			0.44			0.33	1.57
1985			0.50			0.37	1.80
1987			0.56			0.42	2.03
1989			0.63			0.47	2.26
1991			0.69			0.52	2.49
Metro 23. A good solid 19 seater that provides a measure of passenger comfort – a seat is provided and some breathing space. Those of a taller disposition will still not be able to stand up but that is of little concern for operators – except when it translates into a higher passenger weight.
AIRCRAFT RATING:							C–
1992	0.96					0.65	2.31
1994	1.12					0.76	2.68
1996	1.27					0.87	3.06
1998	1.43					0.97	3.43	0.89
2000	1.58					1.08	3.80	1.00		0.67
Fokker F27-200.The -200 provided the means of further improving payload/range performance but the market has since moved on.
AIRCRAFT RATING:							E+
1959			0.13			0.05	0.34
1961			0.15			0.06	0.40
1963			0.18			0.07	0.46
1965			0.20			0.08	0.52
1967			0.20			0.09	0.58
1969			0.21			0.10	0.64
Fokker 50-100The Fokker 50 is in storage in numbers with a number effectively withdrawn from service but not actually parted out. The longer the period of storage without a proper storage program in place or if parked in a salt, high humidity, environment, the less likely a return to service is.
AIRCRAFT RATING:							D–
1987			0.61			0.37	1.35
1989			0.62			0.37	1.36
1991			0.62			0.37	1.36
1993			0.62			0.37	1.37
1995			0.63			0.38	1.38
Fokker 50-300The Fokker 50-300 offers improved performance and is seen as the more popular. The issue of support has been crucial for the aircraft ever since the collapse of Fokker. The type is by no means youthful and asset value is in the eye of the operator rather than the investor.
AIRCRAFT RATING:							D–
1993			1.20			0.78	2.88
1995			1.34			0.87	3.21
Saab 340A.The market for the Saab 340A is extremely difficult as the majority remain in active. Most of the attention is now focused on alternative types as the market moved some years ago to the other 340 variants. The age of the Saab 340A is also a negative. A good number – more than 40 – however, have been converted for freighter use and this seems to be where the market lies.
AIRCRAFT RATING:							E++
1984			0.32			0.22	0.88
1986			0.32			0.22	0.89
1988			0.32			0.22	0.89
Saab 340B.The preference may be for the 340B+ but when there are no none available than the 340B is the natural alternative. Pricing has remained stable and the type is used in a number of theaters rather than being confined to a single country. But storage is an issue as always.
AIRCRAFT RATING:							D
1989			0.72			0.45	2.02
1991			0.78			0.48	2.19
1993			0.84			0.52	2.35
1995			0.90			0.56	2.52
Saab 340BPlus.The focus for the Saab 340 is clearly on the Plus version and there are more active Plus examples. There are very few in the freighter role which is now changing. The type can offer a gravel kit as well as wingtip extensions.
AIRCRAFT RATING:							D
1995			1.33			0.82	3.18
1997			1.41			0.87	3.38	0.88
1999			1.49			0.92	3.58	0.94
Saab 2000.There are relative few Saab 2000s in active commercial service and indeed the production run was. A good idea but some development issues delayed service entry and regional jets won the day in the end.
AIRCRAFT RATING:							E+
1994			1.21			0.82	2.89
1996			1.27			0.86	3.04
1998			1.33			0.91	3.19	0.81
Shorts SD330-100.With more than half of the 140 built no longer in service the market for the type is limited. The structural integrity of the SD330 is considerable and this has been its legacy. But passengers today do expect more comfort for less money.
AIRCRAFT RATING:							E
1975			0.15			0.07	0.32
1977			0.20			0.09	0.46
1979			0.25			0.12	0.61
1981			0.28			0.15	0.75
1983			0.32			0.18	0.89
Shorts 330-200. A box configuration has not been viewed as the most aerodynamic of shapes since flat surfaces create drag. The aircraft is however good for skydiving.
AIRCRAFT RATING:							E+
1975			0.19			0.08	0.41
1977			0.25			0.11	0.57
1979			0.29			0.14	0.72
1981			0.32			0.17	0.88
Shorts 360-300.Values of the 360-300 remain stable despite advancing age. There were approximately 165 ordered and a surprising number remain in service. The structure was always meant to last and lack of pressurization is a plus as it reduces fatigue.
AIRCRAFT RATING							E+
1987			0.51			0.36	1.69
1989			0.53			0.37	1.74
1991			0.56			0.38	1.79

Values of Mid Life RJs Stagnate

B737-900ER Values Continue to Ease Downwards